401 521 Madrona Way Ne, Bainbridge Island

$22,400,000


Listing Office: Sterling Johnston Real Estate.

0 Beds
0 Baths
1.12 Acres
0 Garages

38 Units,Downtown Winslow,Market Cap Rate 4.43%, In place Cap rate 4.27%,demographics comparable to Bellevue, considered to be an ‘A’ submarket outside of Seattle, High end construction built in 2019/20,The currently below-market rent provides the buyer an opportunity to increase income while likely maintaining high occupancy(currently approx.100% occupied)no concessions. Built as condominiums, offering a new owner an alternative exit strategy in the form of selling individual buildings or townhome units. The Walk provide a buyer a low-risk investment with near and long-term growth potential. 6th safest city in Wash State, low utility costs- Zero Energy project with each home designed to be Net Zero energy with low maintenance solar panels.

Essential Information
MLS® #1711386
Price$22,400,000
Acres1.12
Year Built2019
TypeResidential Income
Sub-TypeMulti-Family
StatusPending
Community Information
Address401 521 Madrona Way Ne
Area170 - Bainbridge Islan
SubdivisionBainbridge Island
CityBainbridge Island
CountyKitsap
StateWA
Zip Code98110
Interior
# of Stories2
Exterior
Exterior FeaturesCement/Concrete,Metal/Vinyl
FoundationPoured Concrete
School Information
DistrictBainbridge Island
ElementaryBuyer To Verify
HighBainbridge Isl
Additional Information
Days on Market75
Listing Details
Listing Office: Sterling Johnston Real Estate
Property History
Status Changed from Active to Pending
LISTING MAP

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Listing information last updated on April 11th, 2021 at 10:48pm PDT.